Frequently Asked Questions

Visa Card Frequently Asked Questions

Spending your card

Do you charge me to take out cash from an ATM when overseas?

Caxton FX doesn't charge a fee for overseas ATM withdrawals. Many UK debit, credit card and prepaid card issuers do charge fees for overseas ATM withdrawals. When you use an ATM overseas, the ATM owner may charge you a fee. This is not Caxton FX charging you, this is the ATM owner.

Many ATMs in Thailand will charge for an ATM withdrawal, usually 150 Thai Baht (about £3), regardless of the amount you withdraw. A large number of banks in the US will also charge, but they normally inform you of this before letting you proceed. Unfortunately, if the ATM owner chooses to charge for a withdrawal, there is nothing we can do to prevent or refund this charge as it is not levied by Caxton FX.

Is my currency card like a normal bank debit card or credit card?

Your Caxton FX currency card is not a credit or debit card. It is a prepaid Visa® card that carries a variable amount of money dependent on how much has been loaded on to it. Each time you use the card, the purchase amount is deducted from the available balance.

What should I do if I get the choice to pay in sterling or local currency?

If you are at an ATM or somewhere where the bill is presented in sterling rather than the local currency (i.e. euros or dollars), ask to pay in the local currency, not sterling. This is a process called Dynamic Currency Conversion, or DCC. The merchant invites you to pay in sterling and then performs the exchange at a rate that could be unfavourable, which may cost you money. Remember to check the payment terminal if the amount is shown in sterling, ask that it is changed.

What happens if I need to return an item I have purchased?

Each retail store has its own returns policy and will handle the returns in the same manner as any other Visa transaction.

Where can my currency card be used?

You can use the Caxton FX currency card wherever you see the Visa sign, including ATMs, shops, restaurants, online or on the telephone.

Can I use my Caxton FX currency card in the UK?

Yes, your Caxton FX card will work in the UK. Please refer to our terms and conditions for the fees associated with domestic use of your card. Using your card outside the denominated currency would involve an extra foreign exchange charge. This exchange rate would be determined by Visa rather than Caxton FX.

Should I use my Caxton FX card for security deposits?

Do not use your Caxton FX card for any security deposits when you check into a hotel or hire a car. Secure these with any other card and only use your Caxton FX card to settle the bill. When a card is used for security deposit a block is put on the funds for the relevant amount on that card. Unlike a credit card your Caxton FX card holds a prepaid balance and the block will stop you from spending the deposit amount of your travel cash. A block can last for up to 30 days. Use any other card for the security deposit and your Caxton FX card when the payment transaction is required. The funds will still be pre-authorised on the other cards. If you have any questions, do not hesitate to call us.

How do I check my card balance?

You can check your card balance by logging onto your account or by using our SMS (text) balance retrieval service.

When I am abroad, the ATM asks me to choose which account I wish to withdraw money from. What option should I pick?

How can I find out if there is an ATM nearby?

What are the maximum ATM withdrawal limits on my card?

You can make 2 withdrawals in a 24 hour period and up to 5 over 4 days. Within these limits, you may withdraw up to 300GBP/500EUR/750USD, depending on the card you hold with us.

Managing your card

Do I receive a statement?

No. However, you can view your current balance and transactions online free of charge on the cards.caxtonfx.com website.

Can I have the balance on my Caxton FX card refunded to me?

You can redeem the funds on your currency card at any time, in whole or in part. To do so, please either send us an e-mail using the Contact us facility on the website, or contact us by telephone on 0845 222 2639 from the UK or +44 20 7201 0526, requesting redemption and indicating the amount to be redeemed.

If you request redemption of all funds on your currency card, you may keep your card with a zero balance ready to load for your next trip. You will not be charged for keeping your card with a zero balance on it. When we process your redemption request, please note we may need to verify your identity so that we may process your request in accordance with legal requirements. We may also charge a redemption fee if one of the following circumstances applies:

You are requesting redemption before termination or expiry of this agreement;

You cancel this agreement before any agreed termination or expiry date;

or

You request redemption more than one year after the date of termination or expiry of this agreement.

We will not redeem the value of the funds on your card to you if your request for redemption of the funds is more than six years after the date of termination or expiry of this agreement.

Will I earn interest on my Caxton FX card balance?

You will not earn any interest on any funds loaded onto your currency card.

What do I do if any of my personal details change?

If your address, phone number or e-mail address change, you must let us know as soon as possible, by logging into your online account and updating the necessary sections. If we contact you in relation to your currency card, for example to notify you that we have cancelled your card or to send you a refund, we will use the most recent contact details you have provided to us. Any e-mail to you will be treated as being received as soon as it is sent by us. We will not be liable to you if your contact details have changed and you have not updated your online account.

How do I cancel my currency card?

You have a legal right to cancel your currency card within 14 days of receiving it. Under these terms and conditions, you also have the right to cancel your currency card at any time after this 14-day period. If your currency card is cancelled, we will immediately block your card so it cannot be used. You will not be entitled to a refund of money you have already spent on transactions authorised, pending or any fees for use of the card before it is cancelled. You can cancel your currency card by sending an email to us using the Contact us function on the website or by calling us on 0845 222 2639 from the UK or +44 20 7201 0526 when calling internationally.

My card has suddenly stopped working. Why?

This could be for a number of reasons:

Your card is damaged.

You have no balance left on your Caxton currency card and need to load some more funds.

We have blocked the card for security purposes or on your instructions.

The card has expired and you have not confirmed that you need a replacement; please check the expiry date on the card itself. If you need help, please call 0845 222 2639 from the UK or +44 20 7201 0526 when calling internationally, or email info@caxtonfxcard.com

What are the fees for using my currency card?

We have tried to limit our fees as much as possible to ensure that we can provide the very best value for money for our clients. There are NO monthly fees and as long as you are using the card in the correct currency zone, NO transaction fees when you use your card in shops and restaurants. Unfortunately there are some fees that are unavoidable. Please see the section of our website for a full list of Fees and charges. In order to help you get the very best from your Caxton FX card check the Before you go section.

What is your complaints procedure?

The Prepaid Card programme is managed by Caxton FX Ltd, Portland House, Bressenden Place, London SW1E 5BH. If you are unhappy in any way with your currency card or the way it is managed, tell us by using the e-mail enquiry facility on the website so we can investigate the circumstances for you. Any complaints you have will be dealt with quickly and fairly. You may be able to take unresolved complaints to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone: 0845 080 1800 and e-mail: enquiries@financial-ombudsman.org.uk

Got a question that we've not answered?

Call us on 0845 222 2639 from the UK or +44 20 7201 0526 when calling internationally or email us.

What to do if you are not happy

I’m not happy with my Caxton FX card. What should I do?

Let us know so we can fix it. Please get in touch with our customer service team by sending an email to info@caxtonfxcard.com or by calling us on 0845 222 2639 from the UK or +44 20 7201 0526 when calling internationally.

What is your complaints procedure?

The Prepaid Card programme is managed by Caxton FX Ltd, Portland House, Bressenden Place, London SW1E 5BH. If you are unhappy in any way with your currency card or the way it is managed, tell us by using the e-mail enquiry facility on the website so we can investigate the circumstances for you. Any complaints you have will be dealt with quickly and fairly. You may be able to take unresolved complaints to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone: 0845 080 1800 and e-mail: enquiries@financial-ombudsman.org.uk

I have forgotten my PIN; what can I do?

How secure is my card?

Our 'Chip & PIN' cards offer a safe way to take money overseas. You should treat your currency card like cash in a wallet. If it is lost or stolen, you may lose some or all of the money on your card. As a result, you must keep your Caxton FX card safe and not let anyone else use it. You must keep your PIN secret at all times. Do not reveal it to anyone. We recommend that you frequently check your online balance at cards.caxtonfx.com and monitor transactions using your transaction history. You should contact us if you notice anything suspicious.

What happens if my card is lost or stolen?

If you lose your card, it's stolen or you suspect that your card has been used by someone, you must tell us as soon as you can by calling our 24-hour lost and stolen helpline on 0845 222 2639 from the UK or from outside the UK +44 207 201 0526 when calling internationally. We will then cancel your card. We will ask the police to investigate any suspected misuse of your card and they may need more information and assistance from you. We will refund the amount of any transactions which the investigations show are not authorised by you, provided you have kept your card and PIN secure. However, if the investigations show that any disputed transaction was authorised by you, or you have not kept your card or PIN secure, we will not refund the transaction amount.

I am away from home and I have lost/forgotten my wallet. Can Caxton FX help me get access to my money?

Yes, just call us. Within an hour in most cases, we can courier you an Emergency Card to any UK airport or other UK destination. You’ll need to call Caxton FX once you have received your card, to activate it, retrieve your PIN and load it with funds (we can transfer funds from your existing card). A £50 charge will be applied for using this service.

Loading your card

Are there any minimum or maximum load limits?

The minimum load on your Caxton FX Prepaid Card is £100, €150 or $200 depending on the currency of your card. The maximum single load is £5,000, €7,500 / $10,000. Your card cannot be loaded more than twice in any one day. We reserve the right to refuse to accept any particular loading transaction.

How do I load money onto my card?

Funds can be loaded onto your currency card in a number of ways: online, by phone, or via SMS (text). However, your first load must be made online. Please note your card will only be activated when you load your card for the first time online. Simply go to the website cards.caxtonfx.com, log in to your account and follow the instructions on screen.

You can reload your card free of charge by logging into the cardholder area of the website. Alternatively, you can do it by telephone. Just call us on 0845 222 2639 from the UK or +44 20 7201 0526 when calling internationally. You can also load your currency card via SMS.

Who can load money onto my card?

Your Caxton FX currency card must be loaded from a UK debit card in your (the primary cardholder's) name. Only the primary cardholder can load money onto a card; it is not possible to load it from any other account.

I have just loaded money onto my card. How long does it take for the funds to be added to my available balance?

Once loaded, funds will normally be available for use within minutes.

Auto Top-Up

What is the minimum Auto Top-Up value?

The minimum Auto Top-Up value is £100, €150 and $200

What is the maximum Auto Top-Up value?

The maximum Auto Top-Up value is £1000, €1500 and $2000

Is there a charge for this service?

There is no charge for this service

How do I switch Auto Top-Up on?

Log in to your Caxton FX currency card account and select the Auto Top-Up up option. Select the card that you want to activate Auto Top-Up on, then select the value that you want your card to be automatically topped up at. You will be required to confirm that you have read the terms and conditions

How do I switch Auto Top-Up off?

Log in to your Caxton FX currency card account and select the Auto Top-Up option. Simply select the card you have been using, then select ‘switch off’ the Auto Top-Up facility.

Can I have the balance on my Caxton FX card refunded to me?

You can redeem the funds on your currency card at any time, in whole or in part. To do so, please ensure you have switched off the Auto Top-Up facility then either send us an e-mail using the Contact us facility on the website, or contact us by telephone on 0845 222 2639 from the UK or +44 20 7201 0526, requesting redemption and indicating the amount to be redeemed.

What happens if I lose my card on holiday and have Auto Top-Up on?

You must notify us immediately and we will turn off your Auto Top-Up. You should also go online and check that Auto Top-Up is turned off on your account.

How many times will Auto Top-Up load my card per day?

Maximum number of loads per day is currently 2 – will this still apply? Yes

How will I know if the Auto Top-Up has worked (i.e. if it takes a while for the balance to update) Do I receive confirmation and how?

You will receive confirmation via SMS

We’ve provided brief answers to many of the questions people ask about Caxton FX and our prepaid currency cards. Got a question that we've not answered? Call us on 0845 222 2639 from the UK or +44 20 7201 0526 when calling internationally or email us.

Any questions about FastPay?

Opening a FastPay account

I have opened an account. When will I be able to make an international transfer?

We will open an account within a matter of hours and you will be able to transfer foreign currency abroad immediately. If you need to make a payment urgently, call us on 0845 658 2223 and we will ensure you can make your payment as soon as possible.

I have opened my account online. What do I do next?

You will receive an email either confirming that your account open or that we need further documentation. Your account confirmation email will provide instructions on how to obtain your log-in details for your new account. If you have a query about your account or log-in details, please call our helpdesk on 0845 658 2223.

Making an international payment

What rate will I get?

Log in to your Caxton FX account and select the currency you wish to transfer. This will display the 'live' exchange rate for that particular currency. If you are looking to transfer a larger amount (ie over £20,000) or discuss a currency strategy, please call us on 0845 658 2223 to discuss your needs and for a rate quote.

How do I check the current rate?

We offer live exchange rates within our online payment service – Caxton FX FastPay. You can view the rate on any of our 23 currencies we offer online, by logging in to your account and selecting your desired currency.

What fees do you charge for sending money abroad?

Caxton FX does not charge any fees for sending money abroad.

How do I save money?

On a typical transaction we can help you get up to 4% more money for your money, in comparison with the banks. This is because we will offer you a more competitive exchange rate and do not charge any transfer or commission fees.

Can I fix an exchange rate for a date in the future?

You can fix an exchange rate for a date in the future by using our telephone currency service. You will need to be transferring over £5,000. This facility is not currently available on our international online payment system – Caxton FX FastPay.

What is the minimum amount of currency I can transfer abroad?

You can transact any amount over £100. All international transfers are fee-free with Caxton FX, regardless of the amount you transfer. So whether you need to send money home, make monthly mortgage repayments or send a one-off payment overseas, our online service provides a flexible and cost effective solution.

What is the maximum amount of currency I can transfer abroad?

You can transact a maximum of £50,000 when using our Caxton FX FastPay service. If you wish to transfer currency over this amount, you can use our Telephone transfer Service, by calling 0845 658 2223.

How long will it take me to make an international transfer online?

You can make an international payment in three simple steps. You can complete these steps in a matter of minutes.

Choose the currency and amount that you wish to transfer.

Add your beneficiary details.

Make your international payment.

If you do need further information you can watch our Online Payment demo or call us on 0845 658 2223.

What is a beneficiary?

A beneficiary is the payee or the details of the account to which you wish to send money overseas. Call us on 0845 658 2223 to discuss your needs and for a rate quote.

How do I add a new beneficiary?

Once you have selected your currency and the amount you wish to transfer overseas, you will be asked to enter your beneficiary details. Simply follow the instructions on screen and enter the details. Our easy-to-use system will also store your beneficiary details, for ease of use and to help with your record-keeping.

How do I add a new debit card when making a transfer?

Once you have selected your currency, the amount you wish to transfer overseas and your beneficiary details, you will be asked to enter your debit card details. Simply follow the instructions on screen and enter the details. If you wish to use a debit card that you have previously used, simply select the debit card from the drop down navigation.

Currencies we offer

What currencies do you offer?

We offer a selection of currencies to suit your international transfer needs. We currently offer 24 currencies within our online payment system.

AED UAE Dirham

CHF Swiss Franc

EUR Euro

HUF Hungarian Forint

NOK Norwegian Krone

SAR Saudi Riyal

SEK Swedish Krona

TRY Turkish Lira

AUD Australian Dollar

CZK Czech Koruna

GBP GB Pound

ILS Israeli Shekels

INR Indian Rupee

NZD New Zealand Dollar

SGD Singapore Dollar

USD US Dollar

CAD Canadian Dollar

DKK Danish Krone

HKD Hong Kong Dollar

JPY Japanese Yen

PLN Polish Zloty

THB Thai Baht

ZAR South African Rand

AED UAE Dirham

CAD Canadian Dollar

CZK Czech Koruna

EUR Euro

HKD Hong Kong Dollar

INR Indian Rupee

JPY Japanese Yen

NZD New Zealand Dollar

SAR Saudi Riyal

SEK Swedish Krona

TRY Turkish Lira

ZAR South African Rand

AUD Australian Dollar

CHF Swiss Franc

DKK Danish Krone

GBP GB Pound

HUF Hungarian Forint

ILS Israeli Shekels

NOK Norwegian Krone

PLN Polish Zloty

SGD Singapore Dollar

THB Thai Baht

USD US Dollar

If you need to transfer currency in a particular combination, or a currency that’s not listed, please call us on 0845 222 2658 and we’ll talk to you about our tailored Currency Service.

I want to find out more information about a specific currency. How do I do this?

You can speak to one of our Currency Analysts or your personal Account Manager for detailed information about any of the currencies that we transfer.

Managing your international payments

How long will it take for the funds to arrive in my account?

Once you have submitted your international payment, the time it takes for funds to arrive in your account will vary depending on the currency that you're sending.

Euro currency will take two working days, after Caxton FX has received your sterling.

All other currencies will take 3 working days, after Caxton FX has received your sterling.

My international transfer has failed. What do I do?

First, please check that the three-digit security code on the back of your debit card is correct and the expiry date is correct. If you've checked these two items and the payment still does not go through, you should contact your bank and confirm that they are not blocking the payment.

If you are still experiencing difficulty, after speaking to your bank, please contact the Caxton FX helpdesk by calling 0845 658 2223.

I have forgotten my Account ID or password. How do I access my account?

Please visit the login screen and click on the ‘Forgotten Account ID or Password' links, and follow the instructions. We cannot give you this information over the phone.

Is there a limit to the number of transfers I can make?

No. You can make as many international transfers as you need. We do ask that the amount you transfer online is between £100 and £20,000. If you need to transfer currency to an amount over £20,000 please call us on 0845 658 2223 for details about our Currency Services.

I am currently making personal international payments. Can my company make international business payments through Caxton FX?

Yes. Your business can start using our online payment platform, today. You will need to set up a separate Business Online Payments account. You will be issued with new log-in details. For more information on how Caxton FX can help save your business money and simplify your international payment process, please call our Business Team on 0207 201 0526.

Do you charge commission?

No. Caxton FX does not charge you commission and unlike our competitors, none of our sales staff is paid commission, meaning you will receive excellent value on each and every currency transaction.

How does Caxton FX make money?

The interbank rate is the rate at which banks and large financial institutions trade with each other. We make our money on the difference between the interbank rate and the rate we quote you. This is called a spread. The spread that we give to our clients is much better than the banks offer. We do not charge any fees or commission on top.

Is Caxton FX a regulated financial conduct company?

Yes. Caxton FX Limited is authorised and regulated by the Financial Conduct Authority under the Financial Services and Markets Act 2000 as well as the Payment Services Regulations 2009. For more information on the security of your funds please click here.

We’ve provided brief answers to many of the questions people ask about Caxton FX and FastPay.

Your Card is issued by Valitor hf. whose principal office is Dalshraun 3, 220 Hafnarfjordur, Iceland. Valitor hf. is authorised and regulated by the Icelandic Financial Services Authority as a credit institution (registered number 500683-0589) and is accordingly permitted to issue electronic money in the UK. Your Card is the property of Valitor hf. and is not transferable to anyone else. Valitor hf. is licensed as a Principal Member of MasterCard.

Log in to your account

We have recently updated our systems, and as part of this we have changed the way you log in.